Trade Analysis & Reviews: 09.01.2023 - Short-term momentum remains...

09.01.2023 03:39 PM

Short-term momentum remains bullish for VZ stock price.

Green line- resistance

Blue lines- Fibonacci extension targets

Red lines- bullish divergence

VZ stock price ended last week above the $42 price level. Our first target has been achieved and there is potential for VZ stock price to reach our second target at $44,40. Price continues making higher highs and higher lows. Short-term trend remains bullish. Previous resistance at $39.50 is now support. The RSI has reached overbought levels in the Daily chart and a pull back is not out of the question. We could see a back test of the broken resistance but overall I would expect more upside to be seen over the coming weeks towards our second target.

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*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

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